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Shopping without pain: Compulsive buying and the effects of credit card availability in Europe and the Far East

  • Lo, Hui-Yi
  • Harvey, Nigel
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    The financial consequences of compulsive buying are obvious given the large amount of debt reported by compulsive buyers in many studies. Credit cards allow consumers to borrow money very easily in order to satisfy their desire to purchase. In two web-based experiments, we found that compulsive shoppers often overspent and were rarely influenced by price. Their overspending was partially mediated by their excessive use of credit cards. Furthermore, compulsive shoppers were less conscious of their budgets, especially when they used credit cards. They also obtained more pleasure from accomplishing a shopping trip and were more distressed by delayed product delivery than normal shoppers. Finally, compulsive shoppers in Taiwan were more compulsive than those in the United Kingdom: they displayed many of the above symptoms of compulsive buying more saliently.

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    File URL: http://www.sciencedirect.com/science/article/B6V8H-51PRY26-1/2/1b43faef455dfa81d833dab09d45de76
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    Article provided by Elsevier in its journal Journal of Economic Psychology.

    Volume (Year): 32 (2011)
    Issue (Month): 1 (February)
    Pages: 79-92

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    Handle: RePEc:eee:joepsy:v:32:y:2011:i:1:p:79-92
    Contact details of provider: Web page: http://www.elsevier.com/locate/joep

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    1. Feinberg, Richard A, 1986. " Credit Cards as Spending Facilitating Stimuli: A Conditioning Interpretation," Journal of Consumer Research, University of Chicago Press, vol. 13(3), pages 348-56, December.
    2. Faber, Ronald J & O'Guinn, Thomas C, 1992. " A Clinical Screener for Compulsive Buying," Journal of Consumer Research, University of Chicago Press, vol. 19(3), pages 459-69, December.
    3. Faber, Ronald J, et al, 1995. " Two Forms of Compulsive Consumption: Comorbidity of Compulsive Buying and Binge Eating," Journal of Consumer Research, University of Chicago Press, vol. 22(3), pages 296-304, December.
    4. Davies, Emma & Lea, Stephen E. G., 1995. "Student attitudes to student debt," Journal of Economic Psychology, Elsevier, vol. 16(4), pages 663-679, December.
    5. O'Guinn, Thomas C & Faber, Ronald J, 1989. " Compulsive Buying: A Phenomenological Exploration," Journal of Consumer Research, University of Chicago Press, vol. 16(2), pages 147-57, September.
    6. Soman, Dilip, 2001. " Effects of Payment Mechanism on Spending Behavior: The Role of Rehearsal and Immediacy of Payments," Journal of Consumer Research, University of Chicago Press, vol. 27(4), pages 460-74, March.
    7. Hirschman, Elizabeth C, 1979. " Differences in Consumer Purchase Behavior by Credit Card Payment System," Journal of Consumer Research, University of Chicago Press, vol. 6(1), pages 58-66, June.
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